Why Buy a Townhouse?

Townhouses are homes that share two or more sides with adjoining properties, except for end units. Urban or densely populated suburban areas are the most common locations for townhouses. Townhouses straddle the gap between condominiums and single-family homes, providing a more houselike environment but without the property. This has proved a desirable combination for many buyers, particularly singles, young or small families and empty-nesters. Townhouse sales rose from 2.1 million in 1970 to 23.1 million in 2006, according to the Community Associations Institute.

History

While many townhouses in urban areas can be as much as a couple hundred years old, the vast majority were built beginning in the 1970s, and most are regulated by a homeowner’s association. This group sets the rules of the community and is responsible for maintaining some or all of the exterior and common property. Each homeowner in the community pays a monthly or yearly association fee to help fund these activities.

Features

Townhouse communities often have small yards that belong to each home, along with larger common areas like walkways and streetscapes. Most homes have their own designated parking spaces or garages. Some of the communities even feature amenities such as playgrounds, pools, tennis courts, clubhouses and other recreational areas. These common areas are for the use of everyone in the community and are maintained by contractors hired by the homeowners association using association fees. Residents can enjoy the benefit of using these facilities without the time, effort and knowledge associated with the upkeep.

Considerations

Since the association maintains the property, residents are typically only responsible for their own area of yard, which is often fenced. Mowing, edging, planting and hedge trimming are not concerns, so residents can feel free to travel for extended periods of time without worrying about the upkeep of their homes. Many communities even take care of routine maintenance such as painting, exterior cleaning and roof maintenance. For neighborhoods that do not have an association, it is possible for everyone on the townhouse row to chip in together for larger maintenance issues in order to defray the cost.

Effects

Townhouses feature their own entrances and exits, so there is no common hallway or elevators to navigate when accessing the home. This also means that townhouse residents have more privacy and quiet than condominium owners, while also enjoying more safety benefits than many single-family homeowners, such as close neighbors watching the community and property.

Significance

Since there is not a large plot of land attached to each home, and construction elements such as walls and foundations are shared, many townhouses offer more square footage for the money. Most townhouses offer multilevel living, which provides the same feel as single-family home living at a lower cost. This makes the biggest difference in urban areas, where land cost makes private homes with acreage too expensive for many people.